Summary4 min read

WSJ Tech News Briefing: TNB Tech Minute – TeraWulf Partners with Anthropic on $19 Billion AI Infrastructure Campus

Date: July 6, 2026
Host: Imani Moiz
Produced by: The Wall Street Journal

Episode Overview

This Tech Minute delivers a concise update on major developments in the tech and business world, focusing on TeraWulf’s new partnership with Anthropic to build a massive AI infrastructure campus, an update on SK Hynix’s U.S. listing, and Novartis’s acquisition of Myricks Bio. The episode highlights how infrastructure and investment are influencing the future trajectory of artificial intelligence, semiconductor manufacturing, and pharmaceutical innovation.

Key Discussion Points & Insights

1. TeraWulf and Anthropic’s $19 Billion AI Campus

[00:16 – 01:00]

Digital infrastructure company TeraWulf is teaming up with Anthropic to construct a state-of-the-art AI campus in Kentucky.
Projected Impact:
- Expected revenue: $19 billion
- Computing capacity: 400 megawatts online by 2028
- Backed by a 20-year lease and “investment grade credit profile.”
Significance: This project signifies the escalating demand for dedicated AI infrastructure as advanced models like those from Anthropic require immense computational power.

“Digital infrastructure company Terrawolf is partnering with Anthropic to build a campus in Kentucky that could generate $19 billion in revenue and bring in 400 megawatts of computing power online by 2028, Terra Wolfe said.”
– Imani Moiz [00:19]

2. TeraWulf Divests Stake in Abernathy JV

TeraWulf announced it will sell its 50.1% ownership interest in the Abernathy joint venture to an investment group led by FluidStack.
Purpose: The sale enables TeraWulf to redeploy capital into AI infrastructure opportunities via direct ownership and operation.
Context: This shift of focus illustrates how companies are restructuring to maximize participation in the fast-growing AI sector.

“The sale will enable the company to redeploy capital into AI infrastructure opportunities through direct ownership and operation.”
– Imani Moiz [00:37]

3. SK Hynix Lowers US Listing Target

[01:01 – 01:31]

SK Hynix, a major South Korean memory chip maker, has adjusted its fundraising target for its upcoming U.S. listing after a recent share price drop.
- New target: $28.2 billion (via American Depositary Receipts on Nasdaq)
- Previous target: $29.6 billion
Scale: Despite the reduction, this would still be the second-largest stock sale in history, only trailing SpaceX's recent $75 billion offering.
Use of Proceeds:
- Expand chip-making facilities in South Korea
- Purchase advanced equipment

“Despite the downward revision, the deal would still rank among the biggest share sales in history, second only to SpaceX’s record I, which raised $75 billion last month.”
– Imani Moiz [01:18]

4. Novartis to Acquire Myricks Bio

[01:32 – 01:58]

Novartis, the Swiss pharmaceutical giant, has agreed to buy Myricks Bio for up to $1.5 billion.
- Upfront: $1.1 billion
- Potential Additional Payments: Up to $400 million, depending on milestones
Goal: Strengthen Novartis’ oncology drug portfolio.
Noteworthy: Myricks Bio’s platform hasn’t entered late-stage clinical development, making the high upfront payment a notable risk/reward move.

“Analysts said the purchase is notable because Myrick’s Bios platform hasn’t yet reached late stage clinical development, adding it’s a seemingly high upfront payment relative to the potential milestone payments.”
– Imani Moiz [01:52]

Notable Quotes & Memorable Moments

On the TeraWulf-Anthropic megaproject:
“...generate $19 billion in revenue and bring in 400 megawatts of computing power online by 2028.”
– Imani Moiz [00:19]
On SK Hynix’s ambitions:
“Despite the downward revision, the deal would still rank among the biggest share sales in history, second only to SpaceX’s record I…”
– Imani Moiz [01:18]
On Novartis’ bold acquisition:
“...Myrick’s Bios platform hasn’t yet reached late stage clinical development, adding it’s a seemingly high upfront payment relative to the potential milestone payments.”
– Imani Moiz [01:52]

Noteworthy Soundbite: The Future of AI Software Engineering

[02:26 – 03:00]

Featured as a sponsored mention, Scott Wu (CEO of Cognition) shares insights on AI development:

“What we do at Cognition is we build Devon, the first AI software engineer, and a suite of tools around that. Our whole mission is to help build software around the world 10 times faster from the beginning... By getting to work with Anthropic, we're able to go and deliver customers the exact capabilities that they're looking for. We've been able to help bring folks to a new era of software engineering. This is a world where building software is just as easy as telling your computer what to do.”
– Scott Wu [02:26]

Important Timestamps

00:16 — News begins, TeraWulf-Anthropic partnership announced
00:37 — TeraWulf divestment from Abernathy JV
01:01 — SK Hynix revises US listing target
01:32 — Novartis to acquire Myricks Bio
02:26 — Scott Wu on Cognition and Anthropic partnership (sponsored soundbite)

In Summary

This episode highlights the interplay between technological infrastructure investment, capital market moves, and pharmaceutical innovation. TeraWulf’s ambitious partnership with Anthropic is a bellwether for the exponential growth in AI computing needs. Moves by SK Hynix and Novartis underscore the scale and risk appetite defining tech and bio sectors in 2026. The episode closes with a vision for the future of AI-powered software engineering, glimpsing a world where building with AI is accessible to all.

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Transcript5 lines

[00:00]
Narrator
This episode is sponsored by Anthropic, the makers of Claude Scott Wu spent his childhood winning math and programming competitions. Now he solves similar problems as CEO of Cognition, a successful AI startup. Find out more at the break.
[00:17]
Imani Moiz
Here's your morning TNB Tech minute for Monday, July 6th. I'm Imani Moiz for the Wall Street Journal. Digital infrastructure company Terrawolf is partnering with Anthropic to build a campus in Kentucky that could generate $19 billion in revenue and bring in 400 megawatts of computing power online by 2028, Terra Wolfe said. The project is backed by a 20 year lease and supported by an investment grade credit profile. Separately, Terra Wolf said it will sell its 50.1% ownership interest in the Abernathy joint venture to an investment group led by FluidStack. The sale will enable the company to redeploy capital into AI infrastructure opportunities through direct ownership and operation. South Korea's SK Hynix has lowered the fundraising target for its US Listing after a recent decline in its share price. A regulatory filing with the Korea Exchange today shows the memory chip maker is now seeking to raise about $28.2 billion by issuing American Depository Receipts on the Nasdaq, down from its previous target of about $29.6 billion. Despite the downward revision, the deal would still rank among the biggest share sales in history, second only to SpaceX's record I, which raised $75 billion last month. The company says it'll use the offering's proceeds to expand chip making facilities in South Korea and purchase equipment. And Swiss pharmaceutical company Novartis has agreed to pay up to $1.5 billion for Myricks Bio in a bid to bolster its portfolio of oncology drugs. Novartis will pay 1.1 billion upfront, with up to? 400 million in potential additional payments. The deal is expected to close in the second half of this year and is subject to regulatory approvals. Analysts said the purchase is notable because Myrick's Bios platform hasn't yet reached late stage clinical development, adding it's a seemingly high upfront payment relative to the potential milestone payments. And that's your TNB Tech Minute. We'll be back this afternoon with more anthropics.
[02:20]
Narrator
Claude is AI for problem solvers. Here's Cognition's Scott Wu on how the model made his vision possible.
[02:27]
Scott Wu
What we do at Cognition is we build Devon, the first AI software engineer, and a suite of tools around that. Our whole mission is to help build software around the world 10 times faster from the beginning I always loved that you could take any idea that you had and turn it into reality. Everyone will be able to turn those ideas into reality. By getting to work with Anthropic, we're able to go and deliver customers the exact capabilities that they're looking for. We've been able to help bring folks to a new era of software engineering. This is a world where building software is just as easy as telling your computer what to do.
[03:00]
Narrator
What problems will you solve with Claude? Learn more@claude.com problem solvers.